NewEdge Wealth LLC Has $2.94 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

NewEdge Wealth LLC cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,536 shares of the medical research company’s stock after selling 395 shares during the period. NewEdge Wealth LLC’s holdings in Thermo Fisher Scientific were worth $2,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Halpern Financial Inc. raised its holdings in shares of Thermo Fisher Scientific by 307.7% in the 3rd quarter. Halpern Financial Inc. now owns 53 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 40 shares during the period. Coppell Advisory Solutions LLC acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $33,000. Live Oak Investment Partners acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at about $36,000. Tyler Stone Wealth Management acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $37,000. Finally, Indiana Trust & Investment Management CO acquired a new position in Thermo Fisher Scientific in the 3rd quarter valued at about $38,000. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TMO has been the topic of a number of research reports. TheStreet upgraded shares of Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a research note on Friday, December 22nd. The Goldman Sachs Group increased their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday. Sanford C. Bernstein restated a “market perform” rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. HSBC assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, December 18th. They set a “buy” rating and a $610.00 target price on the stock. Finally, Barclays lowered shares of Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $475.00 to $555.00 in a research report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $601.56.

Insider Buying and Selling

In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the sale, the director now directly owns 1,207 shares in the company, valued at $660,192.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the sale, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares of the company’s stock, valued at $660,192.79. The disclosure for this sale can be found here. Insiders sold 50,277 shares of company stock valued at $28,513,384 over the last quarter. Insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO stock opened at $565.23 on Friday. The company has a fifty day moving average price of $571.66 and a 200-day moving average price of $525.95. The company has a market capitalization of $215.75 billion, a P/E ratio of 36.58, a PEG ratio of 2.38 and a beta of 0.80. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $603.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.75.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, January 31st. The medical research company reported $5.67 earnings per share for the quarter, topping analysts’ consensus estimates of $5.64 by $0.03. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The business had revenue of $10.89 billion during the quarter, compared to the consensus estimate of $10.73 billion. During the same quarter last year, the firm earned $5.40 earnings per share. Thermo Fisher Scientific’s quarterly revenue was down 4.9% on a year-over-year basis. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.52 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Thursday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.10%.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.